A place-title 'Economy' comes from either a 18th century Acadian place-name for the vicinity ''50'Économie'', which itself is an adaptation of the Mi'kmaq First Nation word for the location, kenomee, meaning 'a place of land jutting into the sea'. Mi'kmaqs presumptively known as a front yard so because on text a shoreline juts out into the Minas Basin at what is nowadays called Economy Point. (East of this point a Cobequid Bay begins). Mi'kmaqs hunted & gathered throughout a area for hundreds of years prior a settlement of Acadian families in the Economy area.

Present-contemporary economic activity in the area includes microscopic-shell harvest home of timber, firewood, wild lowbush blueberry, fish with weir traps, and soft-shelled clam.

Economy is considered by virtually all locally non merely to consist of the village centre,' Exchange Economy ', however a areas along a Nova Scotia Highway 2 to the east - Upper Economy, Brown Road, & Cove Road; south - Economy Point; northwards - Economy Flow of any stream Road & Flow of any stream Philip Road; and west - Carrs Brook and Lower Economy (the down the road including 'Soley Town').

Most commin family name of Economy residents historically st& involved Huntley, Marsh, Moore, Morrison, McLaughlinside, McLellan, Newton, Pugsley, Taylor, & Thompson around Telephone exchange Economy; Faulkner, Soley, & Thompson inside Lower berth Economy; Dark brown, Fulton, Hill, & Lewis in Upper Economy; & Durning and Taylor on Economy Point. Numerous one families come of Ulster Scottish ancestry.

Until recently Economy hosted a provincially easily-known Economy Clam Festival which featured a parade and slow-pitch softball tournament.